Chanel Confirms For The Hundredth Time It Is Not For Sale — & Business Is Good
On Monday, Chanel’s global chief financial officer Philippe Blondiaux reiterated to
Business of Fashion that business is
good. “Chanel is not for sale, Chanel is not preparing for an IPO, I just want to reconfirm that for the hundredth time this year,” he said. “The numbers we’ve shared show that our strategy is exactly the opposite of a company preparing for a sale or an IPO. We’ve increased our level of investments… to prepare for the long term,” he explained. Further, he tells
BoF, “We’ve increased our headcount ahead of the curve at the risk of slightly eroding our short-term margins, which we don’t care so much about, to prepare for the long term. That remains our strategy.”